Biogen (BIIB) PT Raised to $400.00 at Oppenheimer

Biogen (NASDAQ:BIIB) had its price target lifted by investment analysts at Oppenheimer from $380.00 to $400.00 in a research report issued to clients and investors on Friday, January 26th. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s price target points to a potential upside of 26.33% from the stock’s previous close. Oppenheimer also issued estimates for Biogen’s Q1 2018 earnings at $5.94 EPS, Q2 2018 earnings at $6.31 EPS, Q3 2018 earnings at $6.45 EPS, FY2018 earnings at $25.03 EPS and FY2019 earnings at $27.65 EPS.

A number of other research analysts have also recently weighed in on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $390.00 price objective on shares of Biogen in a research report on Monday, December 18th. Nomura lifted their price objective on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $321.00 price objective on shares of Biogen in a research report on Tuesday, December 5th. SunTrust Banks reissued a “buy” rating and set a $354.00 target price on shares of Biogen in a research note on Tuesday, October 24th. Finally, Canaccord Genuity assumed coverage on Biogen in a research note on Friday, October 27th. They set a “hold” rating and a $340.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Biogen has an average rating of “Buy” and an average price target of $368.99.

Biogen (NASDAQ BIIB) opened at $316.63 on Friday. Biogen has a 12-month low of $244.28 and a 12-month high of $370.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.34 and a quick ratio of 2.07. The stock has a market capitalization of $67,018.83, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm earned $5.04 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. equities analysts anticipate that Biogen will post 24.88 EPS for the current fiscal year.

In related news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now owns 10,029 shares in the company, valued at approximately $3,182,803.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now directly owns 23,539 shares in the company, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 31,560 shares of company stock worth $10,020,858. Corporate insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIIB. Janus Henderson Group PLC increased its position in shares of Biogen by 4,585.3% during the 2nd quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock valued at $392,265,000 after purchasing an additional 1,414,707 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Biogen by 35.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock valued at $723,142,000 after acquiring an additional 600,384 shares during the period. Bank of New York Mellon Corp boosted its holdings in Biogen by 24.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock valued at $728,314,000 after acquiring an additional 450,207 shares during the period. Assenagon Asset Management S.A. purchased a new position in Biogen during the 3rd quarter valued at $123,494,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in Biogen by 90.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 732,438 shares of the biotechnology company’s stock valued at $198,754,000 after acquiring an additional 348,537 shares during the period. 87.79% of the stock is currently owned by hedge funds and other institutional investors.

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About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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